Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h −0.002%

Price spread now: Aster against Lighter−0.133%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aster is 0.133% cheaper against Lighter than usual: you would sell low and buy high (spread −0.133% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 4.8 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XPD	1,295.3	0.0032	pay 0.0004% / 1h	3m 46s	$398K	$161K	20x
Short	Aster XPDUSDT	1,293.6	0.0125	get 0.0062% / 4h	3m 46s	$27K	$6K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee LighterbpFee AsterbpOrdersPrice spread, now −0.133%Rate

Funding earned: $19.47
Price spread: −0.133% → 0.000%: −$13.31
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$1.84
Costs to cover: 0.080%
Break-even: 7.7 days

Slippage unknown: Lighter: live order book, 26 min ago; Aster: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Lighter live order book, 26 min ago	9.65 bp	17.2 bp −$17	33.3 bp −$333	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

XPD on 17 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance XPDUSDT	0.0000%	4h	1,294.6	−0.056%	$3.7M	$5.0M	100x	as long as short
Gate XPD_USDT	0.0000%	4h	1,294.9	−0.028%	$2.0M	$484K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,294.4	−0.067%	$13.0M	$285K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,294.4	−0.070%	$530K	$27K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,293	−0.178%	—	$1.7M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,294.5	−0.060%	$10K	$35K	20x	as long as short
edgeX XPDUSDC	+0.0004%	4h	1,293.9	−0.105%	$37K	$206K	10x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,292.7	−0.201%	—	—	—	as long as short
Lighter XPDlong	+0.0032%	1h	1,295.3	long leg	$398K	$161K	20x
BloFin XPD-USDT	+0.0033%	4h	1,295.2	−0.006%	$31K	$21K	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+2.895%	$16K	$20K	52x	as long as short
tradeXYZ xyz:PALLADIUM	+0.0039%	1h	1,291.2	−0.317%	$2.6M	$544K	20x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,293.1	−0.171%	$168K	$7K	75x	as long as short
Aster XPDUSDTshort	+0.0125%	4h	1,293.6	−0.133%	$27K	$6K	20x
OKX XPD-USDT-SWAP	+0.0183%	8h	1,294.9	−0.031%	$326K	$491K	50x	as long as short
Bitget XPDUSDT	+0.0376%	4h	1,294	−0.099%	$5.0M	$255K	100x	as long as short
GRVT XPD_USDT_Perp	+0.0688%	4h	1,294	−0.102%	$335K	$672K	25x	as long as short